Inject the fast-paced world of crypto!
Bitcoin is making one All Time High after another, wij’ve slightly had a week without Bitcoin reaching record prices, ter the past months. That being said, the Bitcoin market truly began taking off after wij’ve had a excellent Altcoin Season – and I think it’s safe to say it wasgoed the most intense Altcoin Season wij’ve had, so far. Everzwijn.
What normally happens after a bull market of such magnitude (even across numerous markets!) is a prolonged bear market, followed by a consolidation phase (Altcoins finding a bottom), just to commence a fresh bull market. Regarding how yam-sized the past season’s money influx wasgoed, it would only be natural to assume that the next Altcoin bear market would last a very long time… I even went spil far spil telling it might take anything inbetween 0.Five and Two years.
The Bitcoin Bull Run
But something switched: Bitcoin went higher and higher, everyone and his mother wasgoed buying Bitcoin, hoping for insane comebacks.
This didn’t leave Altcoin markets unaffected: they went lower and lower, and every time people thought they found a bottom, the markets proved them wrong, showcasing that it can always get even worse. People who didn’t sell during the last season now sold at massive losses, just to make sure they get at least a bit before it’s worth nothing, anymore. I’ve seen people becoming millionaires, just to give it all back during the next bear market. They talent back all their gains, and – that’s the significant part – even more. That’s how the whales make their money, they seduce people with massive gains when all you have to do is buy at whatever price and wait a ogenblik to sell higher to a greater loser.
You feel certain te your deeds (because it works, right?), and you don’t realize that you’re about to be made a idiot of, te that very ogenblik you’re buying Altcoins at insane prices, selling them back to the market at a premium. The market tests you, overheen and overheen, making sure you’re good at what you do until it’s minted into your genes. Buy high, sell higher, overheen and overheen, rinse and repeat.
Then all of a unexpected, market turns and you, dear fresh trader, sit on your laptop, hoping for one more wave up, just so you don’t have to sell at a loss.
And abruptly, you find yourself ter price regions where it just doesn’t make any sense to sell anymore. Congratulations, you’re trapped. You got greedy, “forgot” to sell and observed yourself becoming rich, just to give it all back – and most likely even more.
Keep this ter mind: making money is effortless, keeping it isn’t.
But spil markets budge te cycles, you always get a chance to do it better next time. Just buy when everyone else is selling and vice versa. Be patient and find a zindelijk entry, don’t be te a rush buying “bottoms” and you’ll be set for the next season.
You don’t wanna begin your trades when everyone else is already making profits, you want to prepare your future profits when everybody else is at a loss. The thicker, the better – for you. See it spil some kleintje of investment into your future joy. There’s no big gains to be made (at least not persistently) without some initial anguish.
Speaking generally, your emotions are usually a good thing to toonbank trade. Because it feels good to buy a good performer, you will want to buy something the most when time for doing so couldn’t be worse. That’s usually the time you want to get rid of an asset. And when your internal satan tells you to sell something, despite being at a gigantic loss, you should be buying. Once you internalized that and you’re able to abstract that to coins you don’t even wield, yet (why would you feel an urge to sell a coin you don’t even have? … I assume you get the point), you have the basic skill set to become a permanently profitable trader who is able to samenvatting money from the markets long term.
I will commence a series of blog posts here which proceed to explain this, give insight to what I’m going to buy, explain why I chose to buy it and illustrate it with some charts. Stay tuned!